Small businesses face numerous challenges in their bid to grow and succeed. A significant one is accessing funding to finance their growth plans. However, with grants, small businesses can access funds with favorable terms that can support their growth. Most grants are competitive, and small businesses that possess a strong business plan that aligns with the grant’s requirements stand a higher chance of being awarded.
In 2022, several grants are tailored explicitly towards helping small businesses grow. In this article, we will explore the top small business grant opportunities for 2022 and how they can support your business’s growth.
1. Shuttered Venue Operators Grant
The Shuttered Venue Operators Grant (SVOG) is a federal grant program aimed explicitly at businesses in the live entertainment industry that have been adversely affected by the COVID-19 pandemic. If your small business falls within this category and has experienced a decline of over 25% in revenue between 2019 and 2020, you might want to consider applying for this grant. This grant aims to provide small businesses in the industry with financial support to allow them to recover and reopen their operations.
2. Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Grants
The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) grants are federal grant programs aimed at small businesses looking to develop innovative technologies that they can commercialize and bring to the commercial market. SBIR grants are available if your small business is in the early stages of technology research, while STTR grants require collaboration with a research organization.
If you have an innovative product that you believe can revolutionize the market, these grants can help you access funds to support your research and development activities.
3. Minority Business Development Agency (MBDA) Grant
The Minority Business Development Agency (MBDA) Grant is a federal grant program that provides financial assistance, as well as technical and management assistance, to minority-owned businesses. If your small business is minority-owned and operates in a sector that is eligible for this grant, you may be able to access funds to support your business’s growth.
4. FedEx Small Business Grant Contest
The FedEx Small Business Grant Contest is a grant program that provides small businesses with the opportunity to compete for grants ranging from $15,000 to $50,000. Small businesses are required to submit a business plan and a video explaining how the grant would help them grow their business. The contest is open to businesses across a range of sectors, and the competitive nature of the program means only the most compelling business plans are awarded the grants.
5. National Association for the Self-Employed (NASE) Growth Grants
The National Association for the Self-Employed (NASE) Growth Grants are available for small businesses that are members of the NASE. The grant program provides up to $4,000 in funds to help small businesses develop and expand their operations. Businesses are also required to provide a business plan explaining how the funds will be used to support the growth of their business.
In conclusion, small businesses can leverage grants to access funds necessary to support their growth. These grants can be competitive, and small businesses need to ensure that they have a strong business plan that aligns with the grant’s requirements. The grants highlighted in this article offer small businesses the opportunity to access funds to support their growth plans, especially in 2022, when business growth has become very critical.
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